It is expected IBRC will seek multi-million euro damages against Peter Darragh Quinn for hiding assets from the bank.

Judgement has been entered against the businessman, who has so far evaded a three-month jail sentence for contempt of court orders.

IBRC is chasing Peter Darragh Quinn for his role in putting up to €500m worth of Quinn international propery assets beyond the reach of the bank.

The nephew of the bankrupt former billionaire Sean Quinn was found to have acted in breach of court orders, but has managed to avoid serving his jail sentence for contempt by staying north of the border.

The bank, now in liquidation, is seeking damages and Peter Darragh Quinn has not entered any defence to its claim.

Mr Justice Peter Kelly has entered judgment against him and certain international Quinn companies and will assess the claim for damages at a hearing in May.

Referring to the broader legal action against the Quinns, he refused to grant a discovery order to the bank on the basis it may swamp the family who are currently fighting on a number of battlefronts.